PPP Loan Data — Toledo Finance Corporation, Austin, TX
Toledo Finance Corporation is a corporation located at 3821 Juniper Trace in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $1,740,400.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 185 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Texas Capital Bank, National Association
Toledo Finance Corporation in Austin, TX received a Paycheck Protection Loan of $1.74M through Texas Capital Bank, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Toledo Finance Corporation's 2019 payroll expenses are estimated to be at least $8.35M.
Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $45,156 per employee1
Reported PPP Proceed Usage:
On the PPP application, Toledo Finance Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,392,320
- Utilities: $48,080
- Rent: $300,000
Business Information - Toledo Finance Corporation in Austin, TX
3821 Juniper Trace
Austin, TX 78738
NAICS code 522291
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,036 businesses in the "Consumer Lending" industry received a total of $294.22M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 13 employees, 93% lower than Toledo Finance Corporation's reported 185 employees, and received an average PPP loan of $144,509, 92% lower than this company's loan of $1.74M.
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Footnotes & Information
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